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THE PRICE OF ETHEREUM FLUCTUATES IN THE RANGE OF $2,400-2,500, WITH A CHANGE OF ABOUT 1% WITHIN 24 HOURS. THE WEEKLY LEVEL SHOWS THAT ETHEREUM HAS CLOSED WITH A LONG UPPER SHADOW FOR FOUR CONSECUTIVE WEEKS. THIS WEEK, WE NEED TO FOCUS ON THE SUPPORT STRENGTH OF THE WEEKLY 7-DAY MOVING AVERAGE (THE $2,400 MARK). AT THE DAILY LEVEL, THE PRICE HAS MAINTAINED A HIGH-LEVEL BOX SHOCK FOR NEARLY A MONTH, WITH THE TOP OF THE RANGE AT $2,680 AND THE BOTTOM SUPPORT AT $2,480. THE SHARP DROP ON JUNE 6 BROKE THROUGH ALL MOVING AVERAGE SYSTEMS (ESPECIALLY THE KEY SUPPORT OF THE 30-DAY MOVING AVERAGE). AFTER A SMALL REBOUND IN THE PREVIOUS TWO DAYS TO REPAIR THE DEVIATION FROM THE UPPER MOVING AVERAGE, THE PRICE STARTED TO FALL AGAIN TODAY. THE 4-HOUR CYCLE SHOWS THAT ETHEREUM HAS CLOSED TWO CONSECUTIVE LARGE NEGATIVE LINES, BREAKING THROUGH THE REBOUND CHANNEL, AND THE SHORT-SELLING FORCE IS DOMINANT.
